Paul Krugman today in a NYT editorial:
We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense.
To be fair to Krugman, he says that this Depression will be because we haven't spent enough! Hurry, someone, feel his forehead!
